MIRA INFORM REPORT

 

 

Report Date :           

02.11.2011

 

IDENTIFICATION DETAILS

 

Name :

JACARANDA  TOBACCO  TRADING  LTD.

 

 

Registered Office :

c/o Sino Trade Services Ltd., Room 4007, 40/F., Central Plaza, 18 Harbour Road, Wanchai

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

14.02.1997

 

 

Com. Reg. No.:

20852114

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Subject is engaged in Tobacco industry

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

JACARANDA  TOBACCO  TRADING  LTD.

 

 

company address

 

Registered Office:-

c/o Sino Trade Services Ltd.

Room 4007, 40/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.

 

Holding Company:-

Nicotiana Holding B.V., the Netherlands.

 

Associated Company:-

Nicotiana BT Holding AD Sofia, Bulgaria.

 

 

BUSINESS REGISTRATION NUMBER

 

20852114

 

 

COMPANY FILE NUMBER

 

0595410

 

 

DATE OF INCORPORATION

 

14th February, 1997.

 

 

CAPITAL

 

Nominal Share Capital:   HK$3,173,000.00 (Divided into 3,173,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$3,172,084.00

 

SHAREHOLDERS

(As per registry dated 14-02-2011)

 

Name

 

No. of shares

Talent World Ltd., Hong Kong.

 

1

Nicotiana Holding B.V.

World Trade Center, Tower B, 17/F., Strawinskylaan, XX, Amsterdam, the Netherlands.

 

3,172,083

 

 

––––––––

 

Total:

3,172,084

=======

 

 

DIRECTOR    

(As per registry dated 14-02-2011)

 

Name

Address

Co. No.

Talent World Ltd.

7/F., Bonham Centre, 79-85 Bonham Strand, Sheung Wan, Hong Kong.

1152477

 

 

SECRETARY 

(As per registry dated 14-02-2011)

 

Name

Address

Co. No.

Sino Trade Services Ltd.

Room 4007, 40/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.

1163171

 

 

GENERAL

 

Having issued 3,172,084 ordinary shares of HK$1.00 each, Jacaranda Tobacco Trading Ltd. is wholly owned by Nicotiana Holding B.V. which is a Netherlands-based firm.  The director of the subject Talent World Ltd. is a Hong Kong-registered firm which seems to be a nominee company.  Talent World Ltd. is also the minor shareholder of the subject.

Nicotiana Holding B.V. is a subsidiary of Nicotiana BT Holding AD Sofia [Nicotiana] which is a Bulgaria-based firm.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at Room 4007, 40/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong known as Sino Trade Services Ltd. which is handling its correspondences and documents.  Sino Trade Services Ltd. is also the corporate secretary of the subject.

The subject has no employees in Hong Kong.  Nobody can be reached.

The subject is an associated company of Nicotiana which is a Bulgaria-based and registered firm.  It is also a Bulgaria listed firm.

Nicotiana is engaged in tobacco industry, so does the subject.

Nicotiana, formerly Privatisation Fund Nikotiana-BT AD (PF Nicotiana-BT PLC), is a Bulgaria-based company, which is principally involved in the financial sector.  It focuses on the investments in tobacco industry.  It is engaged in acquisition, management, assessments and sale of interests in Bulgarian and foreign companies; acquisition, management and sale of bonds and patents, funding its subsidiaries; engineering, research, development activity, as well as assessment and sale of other intellectual property rights. Nicotiana has three main subsidiaries: Mehanika AD in which it holds 99.3%, Nord Tabac-Nikotiana AD with 50% stake and Nikotiana-Haskovo OOD with 50% stake.  Nicotiana has minority block of shares in Pleven-BT PLC, Isperih-BT PLC and Parvomay-BT AD companies.  It is in 65.98%-owned by Ledra Holding, British Virgin Islands.

Nicotiana’s capital has been divided into 1,800,000 (one million eight hundred thousand) shares, each with face value BGL 1 (BGL one).  The securities (stocks) of “Nicotiana-BT Holding” are listed for trading at the official stock market organized by “Bulgarian Stock Exchange - Sofia”.

In FY 2010 (year ended 31st December), the total revenue of Nicotiana was BGN1.72 million, dropped by 81.5% as compared with BGN9.29 million in FY 2009.  Net loss for the year was BGN0.98 million as compared with a net loss of BGN0.69 million in FY2009.  The situation of Nicotiana has been not good in recent years.

It is likely that Nicotiana deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.

The subject’s business in Hong Kong is not active.  History in Hong Kong is over fourteen years and eight months.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.08

UK Pound

1

Rs.78.78

Euro

1

Rs.67.76

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.